Unisys Corp and Honeywell Inc say they have settled the pending lawsuits over the sale of the Sperry Aerospace Group to Honeywell in December 1986 – Honeywell reckoned that it paid too much because Unisys held back material information; Unisys will make a pre-tax payment to Honeywell of $43.2m over three years toward a $70m total settlement, with the remaining funding coming from insurance and an investment banking firm; as a result of the settlement, Unisys will report a net extraordinary charge of $26.4m against its first quarter figures for the period to March 31; it says the charge will be offset by a larger than expected net gain from implementing the FASB 106 and FASB 109 accounting changes that it already announced it would make.
